DAMMAM, Saudi Arabia, - Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday.
Oil prices have continued to rise, with Brent crude trading above $70 a barrel.
Another three people were sentenced to prison for a combined 24 years, according to a statement read by the attorney general's office on Saudi state TV. No individual breakdown for the sentencing was given.
The Aramco IPO comes with many questions.
As oil giant Saudi Aramco goes public, should you invest?